View more on these topics

Suitors are lining up for Burns-Anderson

Burns-Anderson is understood to have had several approa-ches for the business.

Falcon Group, IN Partnership and The Money Portal are all tipped as the most likely suitors for B-A, which is considering a trade sale or seeking an external cash injection.

B-A chief executive Mike Hughes says: “Providers want scale and although a decent size, we are not yet at the size of the likes of Tenet or Thinc but if we got together with another network, clearly we would have that scale.”

The Bristol network, which is 30 years old this year, has been open about its plans, with many of its 400-plus shareholders still awaiting returns on their initial investments. Hughes says B-A is looking likely to be able to pay its first dividend this year.

Falcon chief executive Allan Rosengren says: “The driving principle for any acquisition is that it makes financial sense and there is profit certainty. Speaking in broad terms, we would have an interest but I would not want to be drawn on anything more than that.”

Hughes says: “Any deal would have to be right by our shareholders, staff, members and the FSA. I cannot say we are close to doing anything just yet.”

TMP declined to comment and IN Partnership was unavailable for comment.

Recommended

Safety thirst

The MSCI AC World index fell for a second consecutive month in July, down by 1.53 per cent in dollar terms, as the fallout from the US sub-prime mortgage crisis spread to lower-quality corporate debt, pushing yields higher.We saw a flight to safety and strong demand for government bonds. Gains in government bonds and investment-grade […]

‘Securitisations will be big test for UK lenders’

Portman group development director Matthew Wyles claims the difficult trading conditions facing lenders will see a “major paradigm shift” in the UK mortgage market.Wyles believes the large number of mortgage securitisation deals scheduled for September mean that lenders will soon find out whether their models are viable following the severe turbulence experienced in global credit […]

SimplyBiz backs Just Retirement annuity campaign

SimplyBiz has joined Just Retirement’s Campaign for Better Annuities, a new initiative designed to raise awareness of key aspects of the annuity market and ensure people get the best possible income in retirement. The compliance support firm is backing Just Retirement’s call to IFAs to “join up” and raise their game in this area. SimplyBiz […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com